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Property profile & analytics
OFF-MARKET
Estimated value
$35,690,000
Garden apartment buildings
101 Harlon Dr Cary, NC 27511-4883
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-0739937
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1984
Construction
FRAME
Total area
8,742 SF
Lot
31.09 ac (1,354,280 SF)
Zoning code
RMF
APN
0773.11-55-6540 0031871
UPID
US53-0739937
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aurella Cary Apartment Complex
-
Reserve at Magnolia Ridge Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$35.69M
Owner & transaction history
Ram Cary LLC · 4 yrs held
Ram Cary LLC
since 2022
Last sale
$37.5M
7 recorded transactions
Zoning & alternative use
RMF · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$40,445,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$35.69M
Range $32.12M – $39.26M · ±10% · vs last sale $37.50M (Feb 11 2022)
Last sale anchor
$37.50M
Feb 11 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$4,083 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$437,123
Tax year 2023
Assessed value
$42,912,475
Assessed 2023
Previous assessed
$42,912,475
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$12,240,000
Assessed improvement
$30,672,475
Land market value
$12,240,000
Improvement market value
$30,672,475
Total market value
$42,912,475
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
12
Rooms
1190
Total area
8,742 SF
Lot
31.09 ac (1,354,280 SF)
Zoning code
RMF
APN
0773.11-55-6540 0031871
UPID
US53-0739937
Jurisdiction
WAKE
Zoning & alternative use
RMF · Cary, NC
Zoning RMF · permitted uses
RMF · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1984
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
12
Rooms
1190
Lot
31.09 ac
Current owner
From public records · entity-resolved
Ram Cary LLC
Entity
Mailing address
999 WATERSIDE DR STE #2300, NORFOLK, VA 23510-3324
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2022
—
Ram Cary LLC
Ram Cary LLC
Intrafamily Transfer
related
$364,000,000 · Forethought Tiff Insurance Company
Oct 26, 2018
$37,500,000
Ram Cary LLC
Sterling Reserve At Magnolia R
Grant Deed
$31,338,000 · Jones Lang Lasalle Multifamily
Oct 26, 2018
—
Ram Cary LLC
Sterling Reserve At Magnolia R
Grant Deed
related
—
Oct 26, 2015
—
Sterling Reserve Of Magnolia Ridg
Gq Cary Brook LLC
Quit Claim Deed
related
—
Oct 26, 2015
$29,250,000
Sterling Reserve Of Magnolia Ridg
Gq Cary Brook LLC
Grant Deed
$24,340,000 · Merchants Bk/in
Feb 18, 2014
$24,300,000
Gq Cary Brook LLC
Rfi Cary Brook LLC
Grant Deed
$19,300,000 · Arbor Realty SR
Nov 1, 2010
$15,220,000
Rfi Cary Brook LLC
Morgan Stanley Cap 2007-iq14
Grant Deed
$11,600,000 · C-iii Commercial Mortgage LLC
Nov 25, 2009
$14,650,000
Bank Of Ny Trust Co
Owner,record
Grant Deed
related
—
Apr 2, 2007
—
Athena Misty Woods LLC
Ml North Carolina Apartments L
Quit Claim Deed
related
$19,000,000 · Prudential Mortgage Capital Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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